Two percent of US home sales were distressed in May 2023

Endast två av bostadsförsäljningarna i Amerika var nödställda i maj, vilket betyder antingen en utestängningsförsäljning eller en bankgodkänd blankning. Det är dubbelt så mycket som förra årets en procent. Det är fortfarande nära historiska bottennivåer och det verkar finnas gott om köpare som är redo att köpa när nödställda fastigheter kommer ut på marknaden. Detta är mycket olikt perioden 2008-2012 då nödställda försäljningar stod för över en tredjedel av all bostadsförsäljning och det inte fanns några redo köpare.

Only two of the home sales in America were distressed in May, meaning either a foreclosure sale or a bank-approved short sale. This is twice as much as last year’s one percent. It is still near historic lows and there seems to be plenty of buyers ready to buy when distressed properties come on the market. This is very different from the period 2008-2012 when distressed sales accounted for over a third of all home sales and there were no ready buyers.

In the UK, the housing market situation is much more precarious. This is because when the central bank raises interest rates, a large proportion of British homeowners have to pay more on their next month’s mortgage. In the US, around 90% of current homeowners’ mortgage payments are fixed and do not increase when the central bank raises interest rates. Only the new buyers face higher mortgage rates.

The mortgage disaster is unfolding in the UK and across Europe as millions are driven towards insolvency. In Sweden, we see a large share of all housing loans being converted this year, at significantly higher interest rates than just a few years ago.

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